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AGENT ACTS AS ADVOCATE FOR & NEGOTIATES ON BEHALF OF SELLER (The Client)
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Seller Agency |
| Works on behalf of the seller and owes duties to the seller which include good faith, loyalty and fidelity. The agent will negotiate on behalf of and act as an advocate for the seller. The agent may not disclose confidential information without express authority of seller. |
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Disclosed Limited Agency
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AGENT WORKS TO PUT THE TRANSACTION TOGETHER WITHOUT ADVOCATING OR NEGOTIATIING FOR EITHER PARTY (The Clients)
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| Works on behalf of more than one client to a transaction, requiring the informed written consent of the clients before doing so. A limited agent may not disclose confidential information about one client to another without written permission releasing that information. While working to put the transaction together, agents in a limited agency transaction cannot negotiate nor advocate solely on behalf of either the seller or buyer. A limited agent may not be able to continue to provide other fiduciary services previously provided to the client. |
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